E_1 Legal_FA_2015_12_29-c A brWCorpL.1hig A Executive Summary Management Discussion and Analysis For the Quarter Ending March 31, 2020 The Thai economy in the first quarter of 2020 sank into a

CentralPlaza Mahachai In 2017, the Thai economy continues to expand with the GDP growth of 3.9% compared to 3.2% in 2016. Factors that drive the economy include 1) Growth in exports at 9.9% from the previous

million) Number of Shares (Share) Par Value (Baht/Share) Shareholding Percentages 27 Ordinary shares of BTS Sansiri Holding Twelve Limited Land owner and property development for sale 100.00 500,000 100.00

Translation (Translation) PAGE (Translation) -29- Readers should be aware that only the original Thai text has legal force and that this English translation is strictly for reference. The SEC

Translation (Translation) Readers should be aware that only the original Thai text has legal force and that this English translation is strictly for reference. The SEC, Thailand cannot undertake any

Company may convert convertible debentures or preferred shares which shall be subject to the provisions of the laws. In making share payment, subscribers or purchasers of shares are not allowed to set off

Deloitte Touche Tohmatsu Jaiyos Audit Company Limited. The operating performance is summarized as follows. Overview According to the Bank of Thailand (BOT) and the National Economic and Social Development

transactions: a) A 56% investment in DAII through an acquisition of DAII’s newly issued shares in January, in exchange for transfer of the Company’s 51% stake in Nirvana Development Co., Ltd. (“Nirvana”) and two

share the financial burden of our customers by waiving the Thai Credit Guarantee Corporation (TCG) guarantee fee for four years under the “Portfolio 13 Guarantee Scheme” to lessen our customers’ business

with 100% shareholding by Thai Solar Energy Public Company Limited equivalent to 74,000,000 ordinary shares at the par value of Baht 10 per share, totaling transaction value of Baht 1,695 million (3